Podcasts about individual retirement account ira

Quint and Allie talk through whether to utilize an employer plan (like a 403(b)) or an Individual Retirement Account (IRA).

What is the best account to use for your retirement savings, a 401(k) or an Individual Retirement Account (IRA)? Each has pros and cons. With a 401(k), you can set aside more each year (up to $23,000 in 2024, or $30,500 if you're over age 50). It's easy for an individual to set up, as your employer typically handles deducting your contributions from your paycheck and depositing them into the account. There are no income limits, and often employers offer matching contributions to boost your savings. IRAs are a bit more flexible than 401(k)s. You can make contributions until the filing deadline (usually April 15 of next year), whereas 401(k) contributions generally must be made by December 31 of this year. You can contribute any type of earned income to an IRA, so you don't have to rely on your employer to offer the plan. However, you are responsible for setting aside and making your contributions. The max contribution to an IRA is lower ($7,000 in 2024, or $8,000 if you're 50 or older), and there are income limits that apply if you or your spouse are also covered by an employer plan. There are also many other types of retirement plans to consider, especially if you're self-employed, such as SEPs and SIMPLEs. It's best to confer with your advisers to determine which plans are best for your circumstances.

The IRS finally published guidance in 2024 on the details that have been missing regarding Inherited IRAs. The SECURE Act of 2019 changed the rules for Inherited IRAs. The distributions can no longer be stretched over the beneficiary's lifetime in many cases. This became known as the new 10 year rule. However, there was significant confusion about this new rule, which left many uncertain on what to do regarding Required Minimum Distributions (RMDs) when inheriting an Individual Retirement Account (IRA).

The IRS finally published guidance in 2024 on the details that have been missing regarding Inherited IRAs. The SECURE Act of 2019 changed the rules for Inherited IRAs. The distributions can no longer be stretched over the beneficiary's lifetime in many cases. This became known as the new 10 year rule. However, there was significant confusion about this new rule, which left many uncertain on what to do regarding Required Minimum Distributions (RMDs) when inheriting an Individual Retirement Account (IRA).

On this episode of Adam Talks, tax attorney and IRA Financial's founder, Adam Bergman, Esq., discusses the 50-year history of the Individual Retirement Account (IRA) and why everyone should invest with one.

The prime beachside developments I unveiled in this past weekend's webinar, along with my friend John Palumbo, have already demonstrated to me first-hand that they are cash flow machines. I am thrilled to be now able to share this opportunity with my audience.  Not to spoil the surprise, but we sold out the project live on the call. However, I worked with the developer to take a few more units for our community. If you want to secure a unit, please send an email directly to expat@beachfrontoffers.com. These will definitely not last long, and this presentation will come down once they are gone. So grab your spouse or significant other and tune into this presentation; this could be a game-changer for yourself and your family. TODAY'S PRESENTATION ON BRAZILIAN BEACHFRONT INVESTMENTS Why venture out of the backyard? John explains why savvy investors are looking beyond their home country for cash flow and capital appreciation.  Uncover South America's “best-kept secret” - a region primed to generate a continuous cash flow with the right investments.  Do you need to speak Portuguese to navigate Brazil? Hear from John and Mikkel's experience in the country.  Why now? Learn about the economic conditions that make investing in the Fortaleza area a no-brainer right now! Find out why this region is in the sweet spot for achieving both immediate cash flow and long-term capital appreciation.  What does it really mean to be “ahead of the curve,” and how do you know when you are too late?  Learn every detail about the Fortaleza region and the specific properties themselves, down to the floor plan (a great reason to watch this one on YouTube). Are you interested in pursuing a Brazilian residency? Learn how this deal can be structured so that you also qualify to become a permanent resident of Brazil at the same time.  Discover “JP's Blueprint,” a strategy for building a global war chest of short-term vacation rental homes.  Do you want a “traditional retirement plan” or a “Freedom Retirement Plan”? Act now and start on the path to freedom. INTERESTED IN THE DEAL DISCUSSED TODAY? DON'T HESITATE TO ACT As I mentioned above, this deal sold out on the call, but I've been able to secure another set of units for my subscribers. Rest assured, these will not last, so if you're interested, email expat@beachfrontoffers.com right away. HAVE AN IRA? YOU CAN USE IT TO PURCHASE TODAY'S DEAL If you are an American and have an Individual Retirement Account (IRA), contact our partner Matt by email at

The Qualified Charitable Distribution is one of the most underutilized tax benefits, yet almost 25 million Americans can take it.There are many requirements for taking a Qualified Charitable Distribution (QCD), or QCD. You must be 70 ½ and have an IRA. If more folks understood QCDs better, they might take them. David Hogan joins us today with the ABCs of QCDs.David Hogan is the Principal of Clifton Larson Allen CPA's in Atlanta, GA. What is a Qualified Charitable Distribution (QCD)?Simply put, a QCD directly transfers funds from your Individual Retirement Account (IRA) to a qualified charity. This move doesn't offer a deduction, but you don't have to report the distribution as income, creating a unique tax advantage for those who qualify.How to Take a QCDTaking a QCD can be straightforward. If your IRA offers check-writing capabilities, you can write a check directly to your chosen charity. If not, you can set up a direct transfer online or over the phone. Your favorite charity can often assist you in setting this up if needed.Tax Advantages of a QCDA QCD can be particularly beneficial for those over 70 and a half if you're not itemizing deductions. You might not get a tax benefit from your charitable contributions if you take the standard deduction. However, with a QCD, you avoid recognizing the IRA distribution as income, effectively reducing your taxable income.Required Minimum Distributions (RMDs) and QCDsAlthough the required minimum distribution (RMD) age has been moved to 73, you can still benefit from a QCD. Distributions to a charity through a QCD count toward satisfying your RMDs without adding to your taxable income. This is especially useful for those with larger IRAs who don't need the funds for living expenses.Who Can Benefit from a QCD?QCDs aren't just for the wealthy. While those with large IRAs can undoubtedly benefit, anyone with an IRA who is charitably inclined can use a QCD to gain a tax advantage. If you're not itemizing deductions and usually take the standard deduction, a QCD allows you to give charitably without increasing your taxable income.Practical Tips for Using a QCDConsider replacing the charitable contributions you typically make from your after-tax dollars with distributions from your IRA. This strategy allows you to use your other assets for personal expenses while maximizing the tax benefits of your IRA distributions.A QCD is the best giving opportunity that many eligible individuals are not taking advantage of. If you have an IRA and are over 70 and a half, consider this tax-efficient way to support your favorite charities.On Today's Program, Rob Answers Listener Questions:What should I do with my 401k since I'm approaching retirement in March 2025? I'll have around $200,000 in it, and I wanted advice on whether to roll it over to an advisor or leave it where it is once I retire.Can I deduct the value of my labor for the repairs and maintenance I do on the rental property where I live? Since I own and live in the building with some tenants, I do much of the work to keep costs down. But I wanted to know if I could charge for my time or labor and have it be legal.Would it be wise to take out a home equity line of credit on my $181,000 mortgage and use that HELOC to pay my daily expenses? I would throw my entire paycheck towards paying down the principal on the mortgage, and I would pay it off within about four years. I would like your thoughts on whether that strategy is a good idea.Would it be wise to use my $215,000 annuity to pay off my $140,000 mortgage as soon as possible? I'm 54 years old and will be retiring in about five years, at which point I'll receive a yearly pension of around $85,000-$90,000. I wanted advice on utilizing my annuity and whether eliminating my mortgage debt made the most sense.Resources Mentioned:An Uncommon Guide to Retirement: Finding God's Purpose for the Next Season of Life by Jeff HaanenRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.

Ever wondered about the best time to switch from a traditional IRA to a Roth IRA? Or what are the advantages of having a Roth IRA during a market dip? Or how an inherited IRA works if you're living overseas? Join host Douglas Goldstein to discover:

We're in the middle of tax season and many people are still getting their paperwork together and wondering about ways to save money on last year's taxes. The good news is there are ways to potentially save on your taxes even though we're in a new year, and today we're going to talk about how with Matt Pastor, RICP® on our latest podcast. This conversation is particularly beneficial for individuals who have just realized their oversight in contributing to their Individual Retirement Account (IRA).   Here's some of what we discuss in this episode: Why it's common for people to not be aware of this IRA option and what you need to know about contribution amounts. Should you put money into those retirement accounts or is it better to use elsewhere? How significant could the tax savings be over time? Where do you find the balance between liquidity and adding to retirement accounts?   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/     

With all the changes in the rules concerning inheriting an Individual Retirement Account (IRA) since the passage of the Secure Act 2.0, Chris Boyd answers a series of listener and client questions. Co-host Jeff Perry starts off with a question whether someone taking a Required Minimum Distribution (RMD) from an IRA can also contribute (and deduct) to an IRA from earned income. The questions turn to how a beneficiary IRA distribution is handled before and after the effective date of the Secure Act 2.0. The dialogue continues with specific case scenarios and which rules apply to each unique set of facts. The issues of inheriting a Roth IRA are reviewed and the segment wraps up with when it may be appropriate to consider a Roth IRA conversion. If you need help with financial planning issues don't hesitate to reach out to Asset Management Resources at (866) 771-8901. Something More with Chris Boyd: https://amrfinancial.com/radio/ https://www.facebook.com/SomethingMoreWithChrisBoyd https://www.instagram.com/somethingmorewithchrisboyd/ https://twitter.com/SMoreChrisBoyd   #IRAInheritanceChanges

Discover the secrets to supercharge your retirement savings structure with our in-depth podcast episode on moving your IRA offshore. Join us as we demystify the benefits and intricacies of offshore IRA investing, showcasing how to diversify your portfolio and secure your financial future. In this comprehensive episode, our team delves into the opportunities that are opened to you when moving your Individual Retirement Account (IRA) offshore. We'll discuss the advantages of offshore IRAs, the various investment options available, and essential factors to consider when making this strategic financial move.Learn about offshore investment vehicles, tax optimization, asset protection, and more. Whether you're an experienced investor or new to the world of offshore IRAs, our podcast offers valuable insights to help you make informed decisions about your financial future. Don't miss out on the chance to secure your financial future - listen to ur podcast episode now and embark on your journey to offshore IRA success! Appearances (from left to right): Jess Roberson, Executive Assistant Urs Vrijhof-Droese, Managing Partner Jamie Vrijhof-Droese, Managing Partner Contact WHVP: Website: https://whvp.ch/ Email: info@whvp.ch Telephone: +41 44 315 77 77 Disclaimer: All posts and publications are for your information only and are not intended as an offer, promotion, or solicitation to buy or sell any financial instrument or perform any other financial transactions. All information and opinions expressed in posts and publications reflect our current views as of the date of the publication and may be liable to change without notice.

Northbrook's Goldstone Financial Group (630-620-9300) has the best investment advisors in Chicago, and they are here to show you how an IRA can ensure you a secure retirement. Go to https://goldstonefinancialgroup.com/ to find out more. Goldstone Financial Group City: Oakbrook Terrace Address: 18W140 Butterfield Road Website https://goldstonefinancialgroup.com/ Phone +1-630-620-9300 Email contactus@goldstonefinancialgroup.com

Investing offers a variety of choices for individuals to consider. While many investors have shown interest in mutual funds, real estate investments through a self-directed Individual Retirement Account (IRA) come with their own set of advantages.   In this episode, we'll discuss the benefits of investing in real estate using a self-directed IRA. By understanding these advantages, you can make informed decisions to potentially maximize your returns and accumulate wealth. If you are looking to diversify your portfolio through the power of a Real Estate IRA, this is a great place to start.    EPISODE HIGHLIGHTS:      Understanding Self-directed IRA  What are the Benefits of SDIRA?  Self-directed IRA Real Estate Investing Tips  Biggest Mistakes for Successful Wealth Growth  Dan Kryzanowski is a successful real estate advisor, investor, and partner. With a proven track record of raising millions of dollars from various sources, including accredited investors and family offices. Dan specializes in niche segments such as industrial and self-storage properties. He possesses a deep understanding of tax-advantaged investing strategies, providing valuable insights to his clients and partners.   His expertise was cultivated through leadership roles at GE Capital in Mexico and South America. As a Wharton graduate and MBA with Distinction from Thunderbird School of Global Management, Dan brings a wealth of knowledge and experience to the table. He holds licenses for Series 7 and Series 66 and is known for his exceptional organizational and leadership skills. Dan resides in Austin, TX, with his wife and son, balancing his professional achievements with his personal life.  Connect with Dan   LinkedIn   Website   Did you enjoy today's episode?       Please click here to leave a review for The We Build Great Apartment Communities.   Be sure to subscribe on your favorite podcast app to get notified when a new episode comes out!       Do you know someone who might enjoy this episode? Share this episode to inspire and empower!       Connect with John Brackett and We Build Great Apartment Communities       Instagram @webuildgreatcommunities        Facebook @buildingreatcommunities        LinkedIn @brackettjohn        Website www.fidelitybps.com       Subscribe to The We Build Great Apartment Communities   Apple Podcasts        Spotify     Do you think you would be a great fit for the show? Apply to be a guest by clicking here.       Fidelity Business Partners, Inc.       6965 El Camino Real Suite 105-190       Carlsbad, CA 92009       D: 760-301-5311       F: 760-987-6065     

Goldstone Financial Group (630-620-9300) can help you maximize your retirement income so you can maintain a comfortable lifestyle even after the "paycheck gap." Call them today to explore your options or visit https://www.goldstonefinancialgroup.com Goldstone Financial Group 18W140 Butterfield Road 16th Floor, Oakbrook Terrace, IL 60181, United States Website https://goldstonefinancialgroup.com/ Phone +1-630-620-9300 Email contactus@goldstonefinancialgroup.com

In this episode of "Retirement Made Simple," we take a deep dive into the world of old 401(k) accounts, specifically focusing on five possible options for what you can do with them. This includes leaving your money in your old 401(k), rolling it over into a new employer's plan, rolling it over into an Individual Retirement Account (IRA), or cashing it out. Throughout the episode, we weigh the pros and cons of each option, providing viewers with a comprehensive understanding of their choices. Please remember that our show is for informational purposes only and it's crucial to consult with a financial professional before making any major financial decisions.

A Roth conversion is a process of moving funds from a traditional Individual Retirement Account (IRA) or a qualified retirement plan (like a 401k) to a Roth IRA. This conversion means that the account holder will owe income taxes on the converted amount, but once the conversion is complete, all future earnings and withdrawals from the Roth IRA will be tax-free. This can be a useful strategy for people who believe they may be in a higher tax bracket in the future or want to have tax-free retirement income. We discuss the 5 effects of Roth conversions and how they can play into a tax-efficient retirement plan.The difference between "taxed now" and "taxed later"Using taxable dollars to buy more Roth dollarsHow Roth conversions can possibly lower RMDsSetting up fewer taxable dollars on your balance sheetIntegrating your retirement plan with your tax planning – comprehensive retirement planning

In the ever-changing world of investments, diversifying your portfolio is key to maintaining stability and growth. One intriguing option that has stood the test of time is investing in gold. In this enlightening episode, we delve into the intricate process of converting an Individual Retirement Account (IRA) into a gold IRA. 1. Introduction to Gold IRA:We kick off the episode by exploring what it means to convert an IRA to gold, a process that offers portfolio diversification and protection for retirement savings. We'll discuss the traditional methods of moving funds from a Roth IRA to a gold IRA and how it allows investment in physical gold and other precious metals. 2. Best Companies for Gold IRA Conversion:Choosing the right company for your gold IRA conversion is crucial. We'll review the top three options, including Goldco, Augusta Precious Metals, and American Hartford Gold, highlighting their unique features, pros, and cons.3. Benefits of Gold IRA Investing:Gold IRA investments offer several advantages, such as tax benefits, protection from inflation, and a safe haven during economic instability. We'll explore how gold IRAs can provide long-term growth potential and stability, making them a solid foundation for retirement portfolios.4. Limitations and Eligibility Requirements:While gold IRAs present many benefits, they also come with specific limitations and eligibility requirements. We'll discuss the IRS-dictated contribution limits, purity standards, and other regulations that potential investors must be aware of. 5. Potential Downsides and Risks:Investing in gold is not without risks. We'll examine the volatility of gold, potential higher costs, and tax implications that must be considered when converting a Roth IRA to gold. 6. Finding a Reputable Gold IRA Transfer Company:We'll guide you through the process of selecting a trustworthy company to manage your gold IRA conversion. From checking track records to reading customer reviews, we'll provide insights on how to make an informed decision. 7. Step-by-Step Process of Converting Roth IRA to Gold: The episode will walk you through the entire process of converting a Roth IRA to gold, from finding a reputable company to choosing your gold investments and transferring funds. We'll also discuss the timelines, paperwork involved, and tax implications. 8. Final Thoughts on Gold IRA Investing:We'll wrap up the episode by reflecting on how gold IRA investing can safeguard your retirement and diversify your portfolio. We'll also provide some pro tips and resources for those interested in taking this investment path. Join us in this comprehensive guide to converting IRA to gold, and discover how this unique investment opportunity could be the golden ticket to a secure and prosperous retirement. Whether you're a seasoned investor or just starting your investment journey, this episode offers valuable insights and practical advice to help you make informed decisions about your retirement accounts.Discover More Here:https://www.ndtv.com/business/partner-content/how-to-convert-ira-to-gold-my-step-by-step-guide-4279024

How do you start becoming financially independent in your twenties?In this episode, certified financial planner Elizabeth Pennington breaks down five essential financial goals, including savings, credit, and retirement planning, along with other best practices to start planning a healthy relationship with money in your twenties. Full transcript and show notes at tiredtwentiespod.comShow notes:Check out Elizabeth Pennington, CFP and her team's work on www.fearlessfinance.com, or @fearlessfinance on IG, FB, Twitter. Read Broke Millennial by Erin Lowry or Get Money by Kristin Wong, recommendations by Elizabeth.“Individual Retirement Account (IRA)” by The Investopedia Team, Investopedia “Rainy Day Fund vs. Emergency Fund – Do You Need Both?” by Rachel Morgan Cautero, The Balance“How Much is TOO MUCH Credit Card Debt?” by Lori Atwood, Fearless Finance“Majority of Americans Say Parents Are Doing Too Much for Their Young Adult Children” by Amanda Barroso, Kim Parker, and Richard Fry via Pew Research Center“Most Americans think young adults should be financially independent by 22—but only 24% are” by Alicia Adamczyk via CNBC Make ItSubscribe to my newsletter to get updates and behind the scenes on the podcast by clicking here or going to tiredtwenties.substack.com.Follow and DM me:Tik Tok or Instagram: @tiredtwentiespodTwitter: @tiredtwentiesDonate to the podcast by clicking here or by going to buymeacoffee.com/tiredtwenties.Don't miss our last episode on ending toxic hustle culture here.More about Elizabeth Pennington, CFP:Elizabeth Pennington is a CERTIFIED FINANCIAL PLANNER™ with Fearless Finance, which offers fee-only, hourly financial advice virtually to clients around the U.S. After starting a policy career in Washington, DC, Elizabeth initially struggled with her own finances and had to learn how to manage her money. As she started her financial journey, she realized that she wanted to work to make financial advice accessible to everyone - not just people who were already wealthy. She switched careers and joined Fearless Finance in 2019. Elizabeth specializes in working with young professionals to help them start financially strong and meet their goals.Elizabeth is originally from Iowa, and she currently lives in the Cleveland, Ohio area with her dog, Wallace, and cats, Norman, Demon, and Smokey.  Elizabeth also volunteers  to help women seeking higher education, including UStrive mentoring and the Philanthropic Educational Organization.

Energy Prices Energy prices continue to climb as regular gas prices at a national level hit a record $4.523/gallon and diesel prices hit $5.573/gallon. Last month gas prices were at $4.08/gallon and diesel prices were at $5.028/gallon. If we look at last year, gas prices were at $3.045/gallon and diesel prices were at $3.171/gallon. For us lucky CA residents, prices for regular gasoline have topped a record average of over $6/gallon.  Energy Market You have seen a lot of rhetoric about price gouging from energy companies as the reason for higher gas prices. But realistically, the answer is much simpler and can be understood by supply and demand. To begin oil and gasoline/diesel are different. Oil is used to refine products such as gasoline and diesel and is an input cost. There is a correlation between the two, but oil does not fully account for changes in gas/diesel prices.  Retail Sales Retail sales had a very similar report to last month as the growth was strong, but much of the growth can be attributed to inflation and price increases. The headline number shows April retail sales climbed 0.9% compared to March and were up 8.2% compared to April 2021. Options Trading Are the small investors getting smarter or did they get burnt so bad by options trading that they're now backing away? The most recent data shows at the end of March, small investors made up 26% of total option activity. This was a decline from last year when it hit 30%. The good news for investors is with less option activity this could reduce the volatility in the market. That does not mean it will not continue adjusting downward, but it should mean the swings should not be as brutal if many small investors do not hold options and begin panic selling. Apple One of the famous investors from the Big Short, Michael Burry, has now turned his attention to Apple and is betting the stock will decline. Burry is utilizing bearish puts to hopefully profit from a decline in Apple's stock. Even with the recent pullback, Apple still trades at over 20x 2023 expected EPS of $6.54. For a company that is now looking at sales and EPS growth in the single digits I would not say this company is a value play. While we do not short or place bets against stocks, I would not be a buyer of Apple at these levels. Harrison Johnson, CFP®: Estate Planning and Beneficiaries, New information from the IRS, Individual Retirement Account (IRA), Making sure your beneficiary is set up properly.   Other Companies Discussed: Ready Capital Corp (RC) Occidental Petroleum Corporation (OXY) Global X MLP & Energy Infrastructure ETF (MLPX) Camping World Holdings Inc (CWH)    

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 You can't invest in anything without first making a decision. And some of those decisions are bigger than others! Should you invest using an IRA or 401k? Or is there a way to have the best of both worlds? Mark Biller with Sound Mind Investing joins Rob West today to help you sort out your investing options. Mark is the executive editor atSound Mind Investing. 401Ks and IRA are similar in many respects, and both offer significant tax advantages. But before you choose the best investment vehicle, make sure you're ready to invest. ●Before investing, make sure you have adequate savings and little to no debt apart from a mortgage and, possibly, school loans. ●Next, determine how much you need to invest each month to reach your retirement-funding goal. TheFidelity Retirement Score calculatoris a terrific free resource to help you make that determination. If both of those boxes are checked, you're ready to choose between a 401K and an IRA. 401K EMPLOYER MATCHES The first thing to consider is whether your employer matches a portion of what you would contribute to a 401k. If so, terrific! That match is the easiest money you'll ever make. If a match is available, contribute the full amount eligible for the match. Caution: Some 401k plans have vesting rules that restrict access to the matching money until you've worked at the company for a certain number of years. So find out if your 401k plan has a vesting requirement. At this point, your decision largely comes down to how you intend to invest this money and if the options in your 401k plan are aligned with your needs. If your 401k plan is well aligned, great! But if you would like options not offered in that plan, then you'll want to consider an Individual Retirement Account (IRA). IRA CONSIDERATIONS You will need to look into the eligibility requirements for IRAs, but if you're a married couple with earnings of less than $100k per year, you'll be eligible for fully deductible contributions to an IRA. ROTH IRAs The contribution rules for Roth IRAs are different. With a Roth IRA, there's no immediate tax benefit, so the rules are looser. A married couple's income has to be below $198,000 to make a full contribution to a Roth IRA. But again, please look into the rules and eligibility requirements before making a decision. If you're eligible for an IRA, Sound Mind Investing typically suggests investing in an IRA once you reach the matching limit in your 401k because of that greater flexibility in terms of investment choices. OTHER CONSIDERATIONS One potential downside to IRAs is that you may not be able to contribute as much as you'd like. The IRA contribution limit is only $6,000, with an additional $1,000 catch-up amount allowed for anyone age 50 or older. However, if you're married, you can effectively double these amounts by opening IRAs for both you and your spouse. If you've maxed out your employer 401k match AND maxed out IRA contributions, you Can then turn back to your workplace 401k plan, which has much more generous contribution limits. Both 401ks and IRAs offer tremendous tax benefits, but they come with significant restrictions in terms of your access to that money. Making an early withdrawal from a retirement account can be costly. So you don't want to put money into one unless you expect to leave it there until retirement. There are, however, some specific exceptions to these rules. LISTENER QUESTIONS On today's program, Rob also answers these listener questions: ●What kind of life insurance policy is right for you? ●Where can you find information on companies you can invest in that are aligned with Christian values? ●Should you prioritize paying off debt sooner or investing more? OTHER RESOURCES Other resources mentioned during today's program: -InspireInvesting.comfor information on Biblically responsible investing -EventideFunds.comInvesting that makes the world rejoice -PraxisMutualFunds.comvalues-based investment options Remember, you can call in to ask your questions most days at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app. Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking theDonate tab on our websiteor in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 You can't invest in anything without first making a decision. And some of those decisions are bigger than others! Should you invest using an IRA or 401k? Or is there a way to have the best of both worlds? Mark Biller with Sound Mind Investing joins Rob West today to help you sort out your investing options. Mark is the executive editor atSound Mind Investing. 401Ks and IRA are similar in many respects, and both offer significant tax advantages. But before you choose the best investment vehicle, make sure you're ready to invest. ●Before investing, make sure you have adequate savings and little to no debt apart from a mortgage and, possibly, school loans. ●Next, determine how much you need to invest each month to reach your retirement-funding goal. TheFidelity Retirement Score calculatoris a terrific free resource to help you make that determination. If both of those boxes are checked, you're ready to choose between a 401K and an IRA. 401K EMPLOYER MATCHES The first thing to consider is whether your employer matches a portion of what you would contribute to a 401k. If so, terrific! That match is the easiest money you'll ever make. If a match is available, contribute the full amount eligible for the match. Caution: Some 401k plans have vesting rules that restrict access to the matching money until you've worked at the company for a certain number of years. So find out if your 401k plan has a vesting requirement. At this point, your decision largely comes down to how you intend to invest this money and if the options in your 401k plan are aligned with your needs. If your 401k plan is well aligned, great! But if you would like options not offered in that plan, then you'll want to consider an Individual Retirement Account (IRA). IRA CONSIDERATIONS You will need to look into the eligibility requirements for IRAs, but if you're a married couple with earnings of less than $100k per year, you'll be eligible for fully deductible contributions to an IRA. ROTH IRAs The contribution rules for Roth IRAs are different. With a Roth IRA, there's no immediate tax benefit, so the rules are looser. A married couple's income has to be below $198,000 to make a full contribution to a Roth IRA. But again, please look into the rules and eligibility requirements before making a decision. If you're eligible for an IRA, Sound Mind Investing typically suggests investing in an IRA once you reach the matching limit in your 401k because of that greater flexibility in terms of investment choices. OTHER CONSIDERATIONS One potential downside to IRAs is that you may not be able to contribute as much as you'd like. The IRA contribution limit is only $6,000, with an additional $1,000 catch-up amount allowed for anyone age 50 or older. However, if you're married, you can effectively double these amounts by opening IRAs for both you and your spouse. If you've maxed out your employer 401k match AND maxed out IRA contributions, you Can then turn back to your workplace 401k plan, which has much more generous contribution limits. Both 401ks and IRAs offer tremendous tax benefits, but they come with significant restrictions in terms of your access to that money. Making an early withdrawal from a retirement account can be costly. So you don't want to put money into one unless you expect to leave it there until retirement. There are, however, some specific exceptions to these rules. LISTENER QUESTIONS On today's program, Rob also answers these listener questions: ●What kind of life insurance policy is right for you? ●Where can you find information on companies you can invest in that are aligned with Christian values? ●Should you prioritize paying off debt sooner or investing more? OTHER RESOURCES Other resources mentioned during today's program: -InspireInvesting.comfor information on Biblically responsible investing -EventideFunds.comInvesting that makes the world rejoice -PraxisMutualFunds.comvalues-based investment options Remember, you can call in to ask your questions most days at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app. Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking theDonate tab on our websiteor in our app.

To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29 You can't invest in anything without first making a decision. And some of those decisions are bigger than others! Should you invest using an IRA or 401k? Or is there a way to have the best of both worlds? Mark Biller with Sound Mind Investing joins Rob West today to help you sort out your investing options. Mark is the executive editor atSound Mind Investing. 401Ks and IRA are similar in many respects, and both offer significant tax advantages. But before you choose the best investment vehicle, make sure you're ready to invest. ●Before investing, make sure you have adequate savings and little to no debt apart from a mortgage and, possibly, school loans. ●Next, determine how much you need to invest each month to reach your retirement-funding goal. TheFidelity Retirement Score calculatoris a terrific free resource to help you make that determination. If both of those boxes are checked, you're ready to choose between a 401K and an IRA. 401K EMPLOYER MATCHES The first thing to consider is whether your employer matches a portion of what you would contribute to a 401k. If so, terrific! That match is the easiest money you'll ever make. If a match is available, contribute the full amount eligible for the match. Caution: Some 401k plans have vesting rules that restrict access to the matching money until you've worked at the company for a certain number of years. So find out if your 401k plan has a vesting requirement. At this point, your decision largely comes down to how you intend to invest this money and if the options in your 401k plan are aligned with your needs. If your 401k plan is well aligned, great! But if you would like options not offered in that plan, then you'll want to consider an Individual Retirement Account (IRA). IRA CONSIDERATIONS You will need to look into the eligibility requirements for IRAs, but if you're a married couple with earnings of less than $100k per year, you'll be eligible for fully deductible contributions to an IRA. ROTH IRAs The contribution rules for Roth IRAs are different. With a Roth IRA, there's no immediate tax benefit, so the rules are looser. A married couple's income has to be below $198,000 to make a full contribution to a Roth IRA. But again, please look into the rules and eligibility requirements before making a decision. If you're eligible for an IRA, Sound Mind Investing typically suggests investing in an IRA once you reach the matching limit in your 401k because of that greater flexibility in terms of investment choices. OTHER CONSIDERATIONS One potential downside to IRAs is that you may not be able to contribute as much as you'd like. The IRA contribution limit is only $6,000, with an additional $1,000 catch-up amount allowed for anyone age 50 or older. However, if you're married, you can effectively double these amounts by opening IRAs for both you and your spouse. If you've maxed out your employer 401k match AND maxed out IRA contributions, you Can then turn back to your workplace 401k plan, which has much more generous contribution limits. Both 401ks and IRAs offer tremendous tax benefits, but they come with significant restrictions in terms of your access to that money. Making an early withdrawal from a retirement account can be costly. So you don't want to put money into one unless you expect to leave it there until retirement. There are, however, some specific exceptions to these rules. LISTENER QUESTIONS On today's program, Rob also answers these listener questions: ●What kind of life insurance policy is right for you? ●Where can you find information on companies you can invest in that are aligned with Christian values? ●Should you prioritize paying off debt sooner or investing more? OTHER RESOURCES Other resources mentioned during today's program: -InspireInvesting.comfor information on Biblically responsible investing -EventideFunds.comInvesting that makes the world rejoice -PraxisMutualFunds.comvalues-based investment options Remember, you can call in to ask your questions most days at (800) 525-7000 or email them toQuestions@MoneyWise.org. Also, visit our website atMoneyWise.orgwhere you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app. Like and Follow us on Facebook atMoneyWise Mediafor videos and the very latest discussion!Remember that it's your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking theDonate tab on our websiteor in our app.

This podcast covers New Girl Season 2, Episode 15, Cooler, which originally aired on January 29, 2013 and was written by Rebecca Addelman and directed by Max Winkler. Here's a quick recap of the episode:The guys determine they're all ready to have sex again and have a night out togther. However, Jess gets paranoid while she's home alone, and makes the guys come home early. She tries to show them she's not a “cooler” so they play their second on-screen game of True American, which leads to an exciting predicament for Jess and Nick shippers… We discuss Pop Culture References such as:Abu Nazir (Homeland) - During the game of True American, Schmidt calls out “Abu Nazir” who is a fictional character from the TV Show Homeland. Inspector Gadget - When trying to get Nick to kiss Jess, they encourage him to inspect her tonsils like Inspector Gadget. Additional Pop Culture References such as:Band of Brothers - When they guys see Holly at the bar, they confirm they're like the group from Band of Brothers. Band of Brothers is a dramatized account of "Easy Company", assigned to the United States Army's 101st Airborne Division during World War II. Gang related / Crips - Jess heard the sounds at the door and was worried it was gang related. She was also concerned about her blue curtains and whispered “Crips” when on the phone with Nick. The Crips are a gang based in the coastal regions of southern California whose members traditionally wear blue clothing. “I am not a crook” - During the True American game the loft calls out “I am not a crook”. Amid charges for the Watergate scandal, President Richard Nixon infamously said, "I am not a crook" during a press conference in Orlando, Florida. We also cover Schmidt's dismissal of Shivrang's “English” accent as our “Schmidtism” this episode as well as give Schmidt's dancing an honorary Schmidtism. In our “not in the 2020s” section we talk about how Schmidt makes light of Nick being sad. We also discuss how Cece “lying” for Schmidt so he can move on is a “yes in the 2020s” moment as well as how comfortable Sam was in his relationship with Jess. We also explore the careers of Brooklyn Decker (Holly), Sal Stowers (Yeah, Yeah, Yeah, Girl), and Andree Vermeulen (Beth), the guest stars of this episode.Also in this episode were the following guest stars who we do not discuss in the podcast: David Walton (Sam - discussed on S2E3), M. Hasna M. (a movie-goer), Jocelyn Osorio (Andrea), Katie Wee (Palm Reading Girl), Brenda Song (Daisy), and Satya Bhabha (Shivrang).Additionally in the podcast we discuss how the beer that the loft is drinking is Heisler beer and mention a few other shows that also use this fake beer brand. We had also previously included links to find “instructions” on how to play True American on S1E20's show notes which can be found here.While not discussed in the podcast, we noted other references in this episode including:London Fog - Schmidt refers to Nick as London Fog, telling him he's “hot to trot”. London Fog is an American coat manufacturer known for making trench coats, raincoats, jackets, and parkas. London Fog was also a nightclub in the 1960 in Los Angeles and is a hot tea-based drink including Earl Grey tea, milk, and vanilla syrup.401(k) - When Nick is trying to convince Holly that Schmidt is happy he mentions that he has a 401(k) which is an employer-sponsored pension plan where employees can deposit into their retirement funds directly from their paycheck and is sometimes matched by their employers. There are two main kinds including an Individual Retirement Account (IRA) and tax exempt or EET.Throughout the game of True American, there were many historical and political references such as:Clinton - Bill Clinton was a former US president who was impeached after lying to a grand jury about his affair with Monica Lewinsky, who was at the time a White House intern.Joe Biden - Joseph Biden Jr. was born in 1942 and was elected the 46th President of the United States in 2021. Prior to his time as President he was also the Vice President of the United States and the Delaware Senator for 36 years, being sworn in just after he turned 30.Howard Dean Scream - Howard Dean is a retired American politician who was the Governor of Vermont from 1991 to 2003 and is also a physician, author, and lobbyist. When he was a Presidential Candidate in 2004, he lost the Iowa Caucus to John Kerry and while reassuring his supporters listed out the states he would win and screamed “Yeah!” which became popularly known after it was broadcasted over 600 times in the next 4 days.Hawley-Smoot Tariff - This is a United States tariff in 1930 that was passed to help American farmers by raising taxes on imports by up to 20%. The stock market did not react favorably to its passage and the timing coincides with the start of the Great Depression as the tariff raised prices that led to other countries having retaliatory tariffs on US goods as well.Mulligan - This is a golf term that means the second attempt after the first one didn't work. The earliest known use of the term is from 1931 in a daily newspaper in Detroit and most believe that the term came from a golfer with the last name Mulligan.Iron Curtain - This is the political and military barrier that the Soviet Union created after World War II to keep itself from the Western and non communist countries. Although it had been used sparingly since the 19th century, Winston Churchill, the British prime minister, used the term in a speech in 1946 which solidified the usage of the term.“Amber Waves of Grain” - This is a lyric from an American patriotic song called “America the Beautiful”  which refers to fields in the plains area where wheat (which is golden in color) is grown. The song was written by Katharine Lee Bates in 1893 and was set to music and officially titled “America the Beautiful” in 1910.Mason-Dixon Line - This was a line separating the borders of Pennsylvania, Maryland, Delaware, and West Virginia which also was seen as the border between the North and the South during the American Civil War. It originated when Charles Mason and Jeremiah Dixon surveyed the land in the 1760s to solve a border dispute which had been going on for almost a century.Gettysburg - This was a battle during the American Civil War fought in July 1863 which is described as the war's turning point and involved the largest number of casualties in one battle in the entire war. It is also the location where President Lincoln gave his famous speech, the Gettysburg Address.Bull Run - This battle was the first major battle of the American Civil War in July 1861. This battle caused both sides to realize that this war was going to be much longer and bloodier than anticipated and highlighted many of the problems that were typical during the first year of the American Civil War.This episode got a 10/10 Rating from both Kritika and Kelly and we both had the same favorite character: Nick!Thanks for listening and stay tuned for Episode 16!Music: "Hotshot” by scottholmesmusic.comFollow us on Twitter, Instagram or email us at whosthatgirlpod@gmail.com!Website: https://smallscreenchatter.com/

Finance is an integral part of our lives and plays a key role in each of our life events. While it is true that the way we handle our personal finances has a direct impact on every aspect of our lives, most of us lack the knowledge and skills necessary to manage our finances effectively.   In today's episode of the Expert(ish) Podcast, our guest, Erik Hitzelberger will discuss how an Individual Retirement Account (IRA) can be used to achieve financial freedom in a number of unique ways. He will focus on the topic of Self-directed IRA as a tool for investing in real estate. In addition to property investment, Erik will also share some creative ways of maximizing the potential of an IRA.   His insight about Individual Retirement Account (IRA): There is a limit on how much you can contribute to your IRA, but there's no limit on what you can make.   Erik Hitzelberger is the Founder of the Freedom Property Group (FPG), Kentucky's premiere turn-key rental provider. Knowing that financial literacy is not taught in most academic institutions, Erik has made it his mission to educate people on how to manage their personal finances and achieve financial freedom.   Enjoy!   This episode is brought to you by Vouris –  We're Vouris – we've developed a powerful framework that allows early-stage startup companies to build stronger sales teams and hit their revenue targets.  We call it the 5 Components of Sales Effectiveness: People Process Message Technology & Leadership  Let us tell you exactly what to focus on to dramatically improve your results. We help early-stage startups hit their revenue goals and you are only one click away from more revenue. https://hubs.ly/H0NK23j0   In This Episode 2:27 - Discovering how self-directed Individual Retirement Account (IRA) works   5:09 - How self-directed IRAs can be used to invest in real estate   9:59 - Are properties under an IRA protected?   12:19 - The limitations of self-directing IRAs and how to overcome them   18:12 - A few creative ways to utilize an IRA   25:12 - The challenges associated with self-directing IRAs   30:27 - Why Erik is passionate about educating people on personal finance   Favorite Quotes "Personal finance and managing your money is one of the most important things that you're going to do in life. And yet we're not given any education at any point. People tell you, 'Oh, just blindly dump money into a 401k or whatever. And that's the solution.' And it turns out it's not." - Erik Hitzelberger   "One of the things people don't really know is that you can do most of the same investing that we do outside of our IRA with our traditional money inside of an IRA." - Erik Hitzelberger   "One of the biggest things that you do have to be careful of with a self-directed IRA is there are disqualified entities and these are people that you can't do business with. And it is generally a vertical family tree. You can't do business with yourself, your spouse, your parents, or your children." - Erik Hitzelberger   "Personal finance and managing your money is one of the most important things that you're going to do in life and yet we're not given any education at any point."- Erik Hitzelberger   Get in touch with Erik Hitzelberger Call (502) 921 3989 Email Website LinkedIn   Connect with JAY JOHNSON Call (858) 925- 4536 Website LinkedIn Facebook Instagram  

In Episode 39 Stash the Cash we talked about different cash accounts you can use for short term savings goals, like savings accounts, CDs, and money market accounts. Today, we’ll ask What Account Should I Consider If I Want To Save More. I put a free, handy checklist that you can download from my website at www.moneypilotadvisor.com. Healthcare savings plans offered by employers. These aren't available to our military service members insured with TRICARE. These special savings accounts allow you to put pre-tax dollars in them directly from your pay check. And as long as you use the funds to pay eligible medical expenses, you won’t pay tax on the money when you draw it out either. With the Flexible Savings Account (FSA) you and your employer can make contributions. But remember to spend the money in your FSA each year because you can't carry it over.  Health Savings Account (HSA)  You can only use one if you have a high deductible health plan. Again, not available with TRICARE. Many civilian employers and FEHB do offer them. It is like an FSA but you can carry over your balance from year to year. If you still have money in your HSA at age 65, you can withdraw it for any reason tax free. It's the Triple Crown of tax free. Consider keeping at least that max out-of-pocket amount in your HSA and/or emergency savings to cover you if you have a big expense. Retirement savings accounts like a 401(k), 403(b), or the Thrift Savings Plan (TSP). Contribute enough to max out any match offered by your employer. For FERS employees and BRS military service members that's at least 5% of your pay.  CSRS feds and non-BRS military don’t get a match. Everyone else check with your employer.  Everyone with earned income contribute to an Individual Retirement Account (IRA) and if you’re a couple with only one income, you can still save up to the max for each of you. This is a great way for a non-working spouse to build up retirement savings. There are regular r and ROTH IRAs. There’s a lot to it. Learn more in my Podcast Episodes 28, 29,  and 30 . 529 College Savings Plans. 529s are offered by almost every state. Withdrawals are tax-free if used for qualified education expenses. And you can change always the beneficiary if needed. Many states also offer other incentives that sweeten the 529 pot so it's worth checking out the details for your state.  Tax Deferred Insurance either an annuity ora cash value life insurance policy, like whole life or universal life Insurance. I feel like both of these though should come with a warning label. They're not necessarily bad saving vehicles. But they often offer large commissions to the agent that sells them and all too often our sold to people when they are not appropriate. So if you're considering an annuity or cash value life insurance, this would be a great time to get a second professional opinion from a financial planner to see if other savings vehicles and or cheaper term life insurance may better fit your particular needs. Lastly, consider a taxable brokerage account. Generally, you can take your money and use it when and where you want without a penalty. These accounts are good if you are willing to take some risk, plan to leave the money there for at least a year, and want would like to earn more return than cash accounts. Setting up these accounts doesn't have to be intimidating. You can usually set up an account online with a low fee mutual fund company like Vanguard, or Betterment which helps you invest in low cost ETFs. Even bigger name brokerage houses like Charles Schwab have some simple, low fee options. If you want someone else to handle it all for you or advice on what to invest in, this is another good time to call on a fee-only financial planner or advisor. 

Today on the Finance Flash Go! podcast, the topic is Traditional IRAs! A Traditional IRA or Individual Retirement Account is an investment account available to any individual. You can contribute up to $6000 yearly (as of 2020) to a Traditional IRA. Money put into this account is not taxed. Again, the money grows and then is taxed upon withdrawal (when your effective tax rate is likely lower). Money can be withdrawn without a 10% penalty beginning at age 70½. The main issue with a Traditional IRA is that the initial tax deduction upon contributing money is phased out for individuals making more than $75,000 or married couples making more than $125,000 in 2020. Physicians will be above this income limit and therefore, their contributions will be taxed twice – once at contribution and once at withdrawal! Please enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to financeflashgo@gmail.com, and please be sure to check out Jordan Frey's blog prudentplasticsurgeon.com where he gives great financial advice. A brief disclaimer While we are providing knowledge and awareness around financial topics in this show, we are not held responsible for any financial decisions you choose to make in response to the podcast. We hope to provide accurate information in regards to money and different methods of wealth creation, but it is always the learner's responsibility to due their due diligence before making important financial decisions. We hope you enjoy the show and thanks for tuning in, and if you like the podcast please subscribe, share, and leave us a review on the podcasting platform of your choice!

David Elder is a Certified Financial Planner, Wealth Manager, Branch Manager, and Partner with Merit Financial Advisors. He’s also Vince’s personal Retirement Advisor. Today on CFO at Home, David and Vince discuss retirement planning; factors to consider when starting or evaluating your plan, factors to consider when looking for a Retirement Planner, HSAs, ETFs, Target Date Funds, and more. Key Takeaways Defined Contribution Plan  - A retirement plan in which an employee contributes money and their employer typically makes a matching contribution  401(k) - For employees of public corporations  403(b) - For employees of schools, healthcare entities and non-profits 457 - For public sector employees  Thrift Savings Plan - For federal employees SIMPLE - For employees and employers of businesses with 100 or fewer employees  Defined Contribution Plans are the most widely-used type of employer-sponsored retirement benefit plan in the US Employees invest in these plans to supplement their Social Security benefits since Social Security alone is typically not enough to pay for the average retirement.  These plans have grown in importance since Defined Benefit Pension Plans, where the employer is responsible for all planning and investment risk, have become less common. Individual Retirement Account (IRA)  A type of tax-deferred or tax free retirement account that individuals can open at many financial institutions.   Questions to consider when starting/evaluating retirement savings: Defined Contribution or IRA? Contribute before or after tax (ROTH)? What’s your investment time horizon and spending goals? What’s your risk tolerance? Is your asset allocation aligned with your goals? If you have multiple accounts, are you optimized across them? Is your retirement account coordinated with your spouse’s plan? Factors to consider when selecting a Financial Planner for Retirement  Professional credentials (CFP?) Experience  Give yourself the proper time to evaluate  What they tell you The questions they ask How well they’re listening to you Have a honest discussion about the pros and cons of working together Ways to contact/follow Meritfa.com Delder@meritfa.com Contact the Host - vince@thecfoathome.com

As we start a New Year and people I’ve been getting more questions about Roth retirement contributions. So I’m using the next few episodes to introduce you to Roth. Think of Roth as a retirement plan’s first name. Although Roths share the same first name, they belong to different families. And lthese families have their own family rules and norms. Common Roth last names are Thrift Savings Plan (TSP), 401(k), and Individual Retirement Account (IRA). So what’s so special about Roth? You pay income tax on your contribution’s BEFORE you put them into a Roth retirement account. All the money you earn on those contributions over the years is all yours, tax-free when you pull it out, as long as you meet a couple of requirements. If you have to pay taxes now, why would get hitched to a Roth? Look at what tax bracket you are in now. What tax bracket you will you be in when you retire? Generally, if you are earning less money now than in retirement, it pays to choose Roth and pay less tax overall in your lifetime. If you're earning more now, it often pays to choose one of Roth’s traditional siblings. To some extent you need a crystal ball to predict the future. I’ll cover more details and examples in another episode. There is a special rule for our military servicemembers contributing tax-exempt combat pay to TSP. Put it in a ROTH TSP. You won’t pay tax if you use it to make contributions to a Traditional TSP account. BUT when you take that money out in retirement, you will be taxed on your contributions. If you will be earning tax exempt combat pay make only ROTH TSP contributions with that pay, not Traditional TSP contributions. How long until you tap your retirement savings? Roth can be fun, but it could be a costly mistake if it’s a one-night stand. You have to wait for 5 years from your first contribution to a Roth and be at least 59 ½ years old when you begin withdrawals to stay tax and penalty free. There are just a few exceptions. Pull out early, and you’ll pay income tax on the earning and an additional 10% penalty for an early withdrawal. An early breakup is gonna cost you.Also, Roth can be a faithful partner in old age. The IRS will require you to begin taking withdrawals from traditional retirement accounts at age 72. Your Roth retirement savings can stay invested and grow with you until you decide. What about those last names? 401k plans are sponsored by your employer. They can offer a traditional 401k and a Roth 401k if they want. TSP follows the same rules as the 401k family. TSP does offer both Traditional TSP and Roth TSP. Your combined yearly contributions don’t exceed the limit, which in 2021 is $19,500 a year, plus an additional $6,500 a year if you are age 50 or older. Roth IRAs? Your employer has nothing to do with it. You would open an IRA on your own. The IRA family is not tied to the TSP or 401k families in any way. For 2021, your combined yearly IRA contributions (whether Roth and Traditional) ca be $6,000 per year, plus an additional $1,000 if you are 50 or older. There is no rule baring you from contributing your full $19,500 total to the Roth and Traditional TSP family as well as $6,000 total to the Roth and Traditional IRA family. So to wrap things up, remember if your retirement plan has a first name of Roth, you pay income tax up front when you contribute, and as long as you follow the family rules, all your withdrawals are tax-free in retirement. If your retirement plan has a last name of TSP or 401k, you cam make contributions up to $19,500 a year, plus $6,500 a year 50 or over. through your employer. If your retirement plan has a last name IRA, you set the account yourself and can contribute up to $6,000 a year, $7,000 50 or over. And yes you can contribute the max amount to the TSP/401k family and the maximum amount to the IRA family at the same time.

Jobs numbers deliver again; Making sense of today’s market yo-yo; Stock market pressure or political pressure driving stimulus talks; Housing continues to boom. More news at OpeningBellNews.com Life’s complicated enough, so throwing TD Ameritrade’s industry-leading tools and super-professional jargon on top doesn’t help matters. Instead, we prefer our trading chops gnaw on super-simple financial apps that don’t turn a one-hour stock-romp into 10-hours of mind-bending information overload. See what we mean? That first paragraph is stuffed with words, when we could have said: “we prefer our financial apps lite.” And now it’s time for the list. #1. Robinhood Robinhood steals from the rich and gives to the poor. And using this app makes that process simple. Zero trading commissions. Yummy. The app makes trading stocks, ETFs, Options, and Crypto so simple, no instructions are needed. What puts this financial app #1 is its no-fuss interface. It has all the features and info you need, but it keeps trade screens focused. Within minutes you can be trading. This is a double-edged sword. Convenience is great, but before investing always do your due diligence. #2. Invstr Download Invstr and take a virtual $1-million and play at being a stock market mogul. What’s most amazing is that you can reach out to other Invstr players and news feeds for stock insights. Plus, you can help manage a $200-billion virtual portfolio. Invstr might be a game, but it is one of the best ways to gain insight before committing one dime. It does include some real-life investment opportunities. Yet, spending a month in Invstr might just help you decide what kind of investments are for you. CHECK OUT: Is short-term trading right for you? Ask yourself these five questions. #3. Acorns For many, Acorns is #1 because it lets you invest as you spend. What most people like is the fact once it is set up, you can literally ignore it until you want to see how much you’ve invested. The way it works is simple, you hook up your bank cards and as you use them to buy items, what you spend is rounded up. For example, if you spent £27.95 at the store, Acorns will round it up to $30 and put the difference into an investment type you agree to when setting up the financial app. The base investment account costs $1-monthly, and you can upgrade to an Individual Retirement Account (IRA) for $1-more monthly. For another $1-more monthly you can even get a checking account and debit card specifically from Acorns. If you’re specifically investing for retirement, the $2-monthly fee and the Acorns Later IRA is hard to beat. #4. Betterment Does the thought of a cheap professionally managed portfolio appeal to you? Then Betterment might be for you. Yet, if you’re terrified of AI then look away now. Betterment is a financial app where your investment is in the hands of a robo-adviser. What this robo-adviser does is take your investment goals and your risk tolerance, and then puts your capital to use in professionally managed portfolios. The best part of Betterment is that you can literally set it up and watch it go. Just adding whatever money you can, when you can. There are some fees, however. The first is a management fee of 0.25-percent. Which means for every $1,000 you invest, you’re paying $2.50 in fees. Plus, there are specific fees based on the ETF’s Betterment invests in. CHECK OUT: 5 differences between stocks and bonds you have to know. #5. Stockpile If like me, you can’t always afford those huge behemoth stocks but want a slice of the pie? Then Stockpile offers an intriguing option. In this financial app, you can buy fractional shares. What this means is that if the stock costs $1,000, but you only have $100 – you can still get a piece of the action. What’s even better is that there is no monthly fee for this (yet they do charge $0.99 per trade). Another great feature about Stockpile is that you can send gift cards that can be spent on a stock you have approved. This is the perfect way to get youngsters into the market. Let us know what financial apps you use and why on social media now. See omnystudio.com/listener for privacy information.

Time for your next podcast class: Trust Funding 201. You signed your living trust (and related documents). Good. You're halfway done. The rest of the job: transferring assets to the trust. In last week's podcast we focused on some of the basic funding issues, in what we called Trust Funding 101. This week we offer Trust Funding 201: a look at some of the more advanced funding issues. The hardest topic of all: what to do with your Individual Retirement Account (IRA), Roth IRA, 401(k) or other retirement plan. We can explain, but there are seldom clear, unequivocal answers. Join us for our discussion.

IRA Financial's Adam Bergman discusses the basics of the Individual Retirement Account (IRA) including the differences between the traditional and Roth plans and the benefits of saving with the plan.

Tax efficiency is an attempt to minimize tax liability when given many different financial decisions. A financial decision is said to be tax-efficient if the tax outcome is lower than an alternative financial structure that achieves the same end.Tax efficiency refers to structuring an investment or a financial plan so that the least possible taxation occurs.A taxpayer can open income-producing accounts that are tax-deferred, such as an Individual Retirement Account (IRA) or a 401(k) plan.Tax-efficient mutual funds are taxed at a lower rate relative to other mutual funds.A bond investor can opt for municipal bonds, which are exempt from federal taxes.Tax efficiency refers to structuring an investment so that it receives the least possible taxation. There are a variety of ways to obtain tax efficiency when investing in the public markets.A taxpayer can open an income-producing account whereby the investment income is tax-deferred, such as an Individual Retirement Account (IRA), a 401(k) plan, or an annuity. Any dividends or capital gains earned from the investments are automatically reinvested in the account, which continues to grow tax-deferred until withdrawals are made.1With a traditional retirement account, the investor gets tax savings by reducing the current year's income by the amount of funds placed in the account. In other words, there's an upfront tax benefit, but when the funds are withdrawn in retirement, the investor must pay taxes on the distribution. On the other hand, Roth IRAs do not provide the upfront tax break from depositing the funds. However, Roth IRAs allow the investor to withdraw the funds tax-free in retirement.In 2019, changes were made to the rules regarding retirement accounts with the passage of the SECURE Act by the U.S. Congress. Below are a few of those changes that take effect in 2020.If you have an annuity in your retirement plan, the new ruling allows the annuity to be portable. So, if you leave your job to take another job at another company, your 401(k) annuity can be rolled over into the plan at your new company. However, the new law removed some of the legal liabilities that annuity providers previously faced by reducing the ability of account holders to sue them if the provider fails to honor the annuity payments.For those with tax-planning strategies that include leaving money to beneficiaries, the new ruling may impact you too. The SECURE Act removed the stretch provision, which allowed non-spousal beneficiaries to take only the required minimum distributions from an inherited IRA. Starting in 2020, non-spousal beneficiaries that inherit an IRA must withdraw all of the funds within ten years following the death of the owner.The good news is that investors of any age can now add money to a traditional IRA and get a tax deduction since the Act removed the age limitation for IRA contributions. Also, required minimum distributions don't need to begin until age 72–versus age 70 1/2 previously. As a result, it's important for investors to consult a financial professional to review the new changes to retirement accounts and determine whether the changes impact your tax strategy.Investing in a tax-efficient mutual fund, especially for taxpayers that don't have a tax-deferred or tax-free account, is another way to reduce tax liability. A tax-efficient mutual fund is taxed at a lower rate relative to other mutual funds. These funds typically generate lower rates of returns through dividends or capital gains compared to the average mutual fund. Small-cap stock funds and funds that are passively-managed, such as index funds and exchange-traded funds (ETFs), are good examples of mutual funds that generate little to no interest income or dividends.A taxpayer can achieve tax efficiency by holding stocks for more than a year, which will subject the investor to the more favorable long-term capital gains rate, rather than the ordinary income tax rate that is applied to investments held for less than a year. In addition, offsetting taxable capital gains with current or past capital losses can reduce the amount of investment profit that is taxed.A bond investor can opt for municipal bonds over corporate bonds, given that the former is exempt from taxes at the federal level. If the investor purchases a muni bond issued in his or her state of residency, the coupon payments made on the bond may also be exempt from state taxes.For estate planning purposes, the irrevocable trust is useful for people who want to gain estate tax efficiency. When an individual holds assets into this type of trust, s/he surrenders incidents of ownership, because s/he cannot revoke the trust and take back the resources. As a result, when an irrevocable trust is funded, the property owner is, in effect, removing the assets from his or her taxable estate. Generation-skipping trusts, qualified personal residence trusts, grantor retained annuity trusts (GRAT), charitable lead trusts, and charitable remainder trusts are some of the irrevocable trusts that are used for estate tax efficiency purposes. On the other hand, a revocable trust is not tax-efficient because the trust can be revoked and, thus, assets held in it are still part of the estate for tax purposes.An irrevocable trust is a type of trust where its terms cannot be modified, amended or terminated without the permission of the grantor's named beneficiary or beneficiaries. The grantor, having effectively transferred all ownership of assets into the trust, legally removes all of their rights of ownership to the assets and the trust.This is in contrast to a revocable trust, which allows the grantor to modify the trust, but thus loses certain benefits such as creditor protection.The main reasons for setting up an irrevocable trust are for estate and tax considerations. The benefit of this type of trust for estate assets is that it removes all incidents of ownership, effectively removing the trust's assets from the grantor's taxable estate. It also relieves the grantor of the tax liability on the income the assets generate. While the tax rules vary between jurisdictions, in most cases, the grantor can't receive these benefits if they are the trustee of the trust. The assets held in the trust can include — but are not limited to, a business — investment assets, cash, and life insurance policies.Irrevocable trusts are especially useful to individuals who work in professions that may make them vulnerable to lawsuits, such as doctors or attorneys. Once property is transferred to such a trust it is owned by the trust for the benefit of the named beneficiaries. Therefore it is safe from legal judgments and creditors, as the trust will not be a party to any lawsuit.A financial plan is a comprehensive statement of an individual's long-term objectives for security and well-being and a detailed savings and investing strategy for achieving those objectives. A financial plan may be created independently or with the help of a certified financial planner.In either case, it begins with a thorough evaluation of the individual's current financial state and future expectations.The core of a financial plan is a person's clearly defined goals. They may include funding a college education for the children, buying a larger home, starting a business, retiring on time, or leaving a legacy.Financial plans don't have a set template. A licensed financial planner will be able to create one that fits you and your expectations. It may prompt you to make changes in the short-term that will help ensure a smooth transition through life's financial phases.Net worth is the value the assets a person or corporation owns, minus the liabilities they owe. It is an important metric to gauge a company's health and it provides a snapshot of the firm's current financial position.Positive and increasing net worth indicates good financial health while decreasing net worth is cause for concern as it might signal a decrease in assets relative to liabilities.One way to improve net worth is to either reduce liabilities while assets stay constant or rise. You can also increase assets while liabilities either stay constant or fall.Net worth is a quantitative concept that measures the value of an entity and can apply to individuals, corporations, sectors, and even countries. Net worth provides a snapshot of an entity's current financial position.In business, net worth is also known as book value or shareholders' equity. The balance sheet is also known as a net worth statement.People with substantial net worth are known as high-net-worth individuals.A consistently profitable company will have a rising net worth or book value as long as these earnings are not fully distributed to shareholders as dividends. For a public company, a rising book value will often be accompanied by an increase in the value of the company's stock price.An individual's net worth is simply the value that is left after subtracting liabilities from assets. Examples of liabilities (debt) include mortgages, credit card balances, student loans, and car loans. An individual's assets include checking and savings account balances, the value of securities (e.g., stocks or bonds), real property value, the market value of an automobile, et al. In other words, whatever is left after selling all assets and paying off personal debt is the net worth. Note that the value of personal net worth includes the current market value of assets and the current debt costs.People with a substantial net worth are known as high net worth individuals, and form the prime market

Everyone wants a "simple" estate plan. But many have complicated notions about distribution of assets. We want to help you simplify your estate plan. We see many clients with fixed ideas about which assets should go to which beneficiaries. Do you have four children? Well, couldn't you just open four accounts at different financial institutions and leave one to each child? Or perhaps you think one child might want to live in your home. Can you just adjust the amount in each of those financial accounts, and then leave the home and a smaller account to that child? Do you really know what your children will do with your home? Ah, but your Individual Retirement Account (IRA) has a different value to each beneficiary. Most of the beneficiaries will get less out of an IRA because of the income tax liability attached to it. You might want to take advantage of that disparity, leaving taxable income to the beneficiaries who have the least tax to pay. Plus your estate plan can actually get disrupted by changes in law or circumstance. Oh, and wait. What if you need money to provide for extra health care at life's end. Which account(s) will that money come from? And what if the person in charge of making decisions effectively adjusts your plans by choosing which accounts to diminish or enhance? Join us for our podcast discussion about how to really simplify your estate plan. Spoiler alert: we're going to ask you to step back from your preconceptions about which asset should go to which beneficiary, and focus instead on larger goals. Do you want rough -- or even precise -- parity among your beneficiaries? Let us help you get to your actual goal, rather than the complex structure you might have constructed in advance.

In this podcast I will answer the question: How can I get money out of my IRA before age 59.5 without a 10% penalty? I would like to start by briefly reviewing the rules of an Individual Retirement Account (IRA): Deposits into an IRA are tax deductible. Right on the front page of your tax return you put in the amount of your contribution and deduct it from your income. When you take money out of your IRA you pay income taxes on that money. If you take it out before you turn 59.5, in general, you need to also pay a 10% penalty. At age 59.5 you can take money out of an IRA without a penalty. At 70.5 you need to start taking money out each year. The amount depends on the balance on 12/31 of the previous year and the life expectancy at that time. For a 71 year old, the life expectancy is 17 years. The distribution would be your balance on 12/31 divided by 17. There are two ways to avoid the 10% penalty and withdraw money from your IRA before turning 59.5: they 72T or if you qualify for a hardship rule. 72T – Penalty Free Early Withdrawals from IRAAn Internal Revenue Service (IRS) rule that allows for penalty-free withdrawals from an Individual Retirement Account (IRA). The rule requires that, in order for the IRA owner to take penalty-free early withdrawals, he or she must take at least five “substantially equal periodic payments” (SEPPs). The amount depends on the IRA owner's life expectancy calculated with various IRS-approved methods. There are three ways that you can determine the amount of the distribution from your IRA, and all three are based upon the balance of the IRA account and your age. The first method is the simplest, known as the Required Minimum Distribution method. The Required Minimum Distribution method for calculating your Series of Substantially Equal Periodic Payments calculates the specific amount that you must withdraw from your IRA (or other retirement plan) each year. The calculation is based upon your account balance at the end of the previous year, divided by the life expectancy factor from one of the following three tables: the Single Life Expectancy table, the Uniform Lifetime table, or Joint Life and Last Survivor Expectancy table, using the age you have reached (or will reach) for that year. This annual amount will be different each year. The second method is called the Fixed Amortization Method. Calculating your annual payment under this method requires you to have the balance of your IRA account, from which you then create an amortization schedule over a specified number of years. The number of years for your calculation is equal to your life expectancy factor from either the Single Life Expectancy table, the Uniform Lifetime table, or the Joint Life and Last Survivor Expectancy table, using the age you have reached (or will reach) for that year. In addition, you will specify a rate of interest of that is not more than 120% of the federal mid-term rate published by regularly the IRS in an Internal Revenue Bulletin (IRB). The third method is similar to the second, called the Fixed Annuitization Method. Calculating your annual payment under this method requires you to have the balance of your IRA account and an annuity factor, which is found in Appendix B of Rev. Ruling 2002-62 using the age you have reached (or will reach) for that year. Again, you'll select a rate of interest of that is not more than 120% of the federal mid-term rate published by regularly the IRS in an Internal Revenue Bulletin (IRB). Rule 72(t) allows you to take advantage of your retirement savings before the age of 59.5, when there is otherwise a 10% penalty on early withdrawal. The withdrawals, however, are still taxed at your income rate. The drawback to taking advantage of Rule 72(t) is that you may deplete your retirement accounts well before the end of your life expectancy. Other Penalty Free Distributions from IRAThere are several ways to take IRA distributions before age 59.

Nate Hare attended Auburn University on a baseball scholarship in 1996 and played in the College World Series in 1997. He graduated from the University of Portland with a Dual Degree in Business Management and Marketing in 2001, and was the recipient of numerous athletic awards from 1995-2000. After college, Nate moved to Nevada where he attended Key Realty School and later held his real estate license with Keller Williams. His love for Real Estate and numbers then led him to a long lasting career as a Senior Loan Consultant in Nevada. He worked with the largest Private Lenders in the state for 6+ years, and was a top producing Consultant with Silver State Mortgage, Meridias Capital, and The Royal Bank of Canada (RBC). In 2003, Nate was submitted as a nominee for the Mortgage Loan Consultant Rookie of the Year award for all Loan Consultants across the nation. In 2012, Nate's experience in lending and real estate attracted the attention of Quest Trust Company, Inc. Nate began his journey with Quest Trust Company to become an IRA Specialist under the guidance of President H. Quincy Long, and CEO Nathan Long. Since that time, Nate has been a key component of Quest Trust Company's 300% growth and has excelled into the role of Executive Vice President. He currently oversees and manages the IRA Specialist Team, Sales and Marketing Department, Transactions Department, as well as plan Quest's large Networking Events that are hosted throughout the nation. Additionally, Nate Hare is a Certified IRA Services Professional as well as an Executive Officer for Quest Trust Companys Board Committee, the 7-member leadership team responsible for setting the corporate strategy, goals, and annual targets for the company. What you'll learn about in this episode: Why you should have an Individual Retirement Account (IRA), and what tax benefits you can receive from a self-directed IRA Nate defines a “self-directed” IRA, and how companies like Quest Trust differ from major brokers like Fidelity or Charles Schwab How a self-directed IRA allows you to choose and control which investments you hold within your IRA Why your IRA should pay any fees associated with your investments, and what rules govern a self-directed IRA How IRA distributions work, what taxes and penalties you might pay to take out funds early, and when you can take out funds without paying What age limits govern the use of IRAs, and why a Roth IRA is particularly appealing for investors What a CESA (Coverdell education savings account) is, what benefits it offers, and who qualifies to set one up What a UBIT (unrelated business income tax) is, what circumstances will trigger a UBIT, why it is important to be aware of, and how to avoid it Why wrap-around mortgage notes do not trigger a UBIT, and why self-employed people with solo 401ks have a built-in exemption to UBIT Why it is important to start taking action now and limit or eliminate your taxes through the use of IRAs accounts Additional resources: Email: iraspecialist@questtrust.com Website: www.questtrust.com Website: www.ronsfreebook.com Website: www.ronsdollardeal.com Website: www.ronlegrand.com

:40 Intro 1:06 Back Story of George S. Clason 1:37 The Seven Cures for a Lean Pure 1:45 1st Cure: Start thy purse to fattening  2:55 Individual Retirement Account (IRA) 6:25 2nd Cure: Control thy expenditure 6:50 3rd Cure: Make thy gold multiply 7:58 4th Cure: Guard thy treasures from loss 9:38 How to conduct a quick analysis 10:48 Keep it simple like Warren Buffet 11:27 Protect your money and go with your gut 12:10 Are you a fiduciary? 13:25 5th Cure: Make thy dwelling a profitable investment 14:00 Live within your means 14:25 The psychological benefit of owning a home 15:14 Trick out the interest cycle and quickly pay off your mortgage 16:28 6th Cure: Insure a future income 18:42 7th Cure: Increase thy ability to earn 20:50 Grandma gets down to business

Learn if you are pre-disposed to wealth or if it is a matter of habits and choices. Do you know that wealth is a choice? Learn the 6 Steps to Wealth and how to go from $0 to wealthy. It's not about how much you make or how much you don't spend. For example: Person A: Makes $40,000 per year. Over their working lifetime of 30 years, they will earn $1.2 million. How much of that money will they keep? The average savings rate in America is currently 2.8%... ...And 2.8% of a $40,000 annual income is $1120 per year saved; a total of $33,600 saved over 30 years. Person B: Makes $40,000 per year. Invests $5500 per year (maximum under age 50) in an Individual Retirement Account (IRA) and averages 10% in the stock market for 30 years. They retire in 30 years with $1,091,160. In 30 years, Person A will have $33,600 and Person B will have $1,091,160. Which one are you? Connect with me on Instagram.com/LindaPJones for a daily wealth tip. 

Just about everyone saving for retirement is faced with the option: Traditional or Roth.  It doesn't matter if you are saving for retirement through an Individual Retirement Account (IRA) or a company-sponsored plan like a 401(k) or 403(b). You typically have the ability to choose between these two options. Unfortunately, most people default to choosing the wrong option and they could be missing out on tens of thousands of extra dollars in their retirement accounts. In today's episode, you will learn: Why we put money in retirement accounts to begin with The rules of thumb for choosing a retirement account and why you might not want to follow them Which type of retirement account - Traditional or Roth - is the best option (for most people) The flipside of the argument so you make an informed decision about what is best for you A common misconception about retirement accounts and how to address this One super simple trick for choosing the best investment options in your retirement account If you want to save more money, reduce your future tax bill, and invest smarter, you don't want to miss today's episode.   Show notes: www.youstaywealthy.com/24  DISCLAIMER: This podcast is for informational and entertainment purposes only and should not be relied upon as a basis for investment decisions. This podcast is not engaged in rendering legal, financial, or other professional services.

Turn on the television or scroll through Facebook, and chances are you'll see at least one advertisement for a group or “guru” who promises to teach you how to “get rich quick” through real estate investing. The truth is, much of what they're selling are high-risk tactics that aren't a good fit for the average investor. However, there is a way to make steady, predictable, low-risk income through real estate investing. In this blog post, we'll examine the tried-and-true tactics that can be used to increase your income, pay off debt … even fund your retirement!WHY INVEST IN REAL ESTATE?One of the basic principles of real estate investment lies in this fact: everyone needs a place to live. And according to the Bureau of Labor Statistics' most recent Consumer Expenditures Survey, housing is typically an American's largest expense.1 But there are other reasons why real estate is a great investment choice, and we've outlined the top five below:1. AppreciationAppreciation is the increase in your property's value over time. History has proven that over an extended period of time, the value of real estate continues to rise. That doesn't mean recessions won't occur. The real estate market is cyclical, and market ups and downs are natural. In fact, the U.S. housing market took a sharp downturn in 2008, and many properties took several years to recover their value. However, in the vast majority of markets, the value of real estate does grow over the long term.The S&P CoreLogic Case-Shiller National Home Price Index, which tracks U.S. residential real estate prices, released its latest results on August 29 with the headline “National Home Price Index Rises Again to All Time High.”2While no investment is without risk, real estate has proven again and again to be a solid choice to invest your money over the long term. 2. Hedge Against InflationInflation is the rate at which the general cost of goods and services rises. As inflation rises, prices go up. This means the money you have in your bank account is essentially worth less because your purchasing power has decreased. Luckily, real estate prices also rise when inflation increases. That means any money you have invested in real estate will rise with (or often exceed) the rate of inflation. Therefore, real estate is a smart place to put your money to guard against inflation.3. Cash FlowOne of the big benefits of investing in real estate over the stock market is its ability to provide a fairly steady and predictable monthly cash flow. That is, if you choose to rent out your investment property to a tenant, you can expect to receive a rent payment each month. If you've invested wisely, the rent payment should cover the debt obligation you may have on the property (i.e. mortgage), as well as any repairs and maintenance that are needed. Ideally, the monthly rental income would be great enough to leave you a little extra cash each month, as well. You could use that extra money to pay off the mortgage faster, cover your own household expenses, or save for another investment property.Even if you only take in enough rent to cover your expenses, a rental property purchase will pay for itself over time. As you pay down the mortgage every month with your rental income, your equity will continue to increase, until you own the property free and clear … leaving you with residual cash flow for years to come.As the owner, you will also benefit from the property's appreciation when it comes time to sell. This can be a great way to save for retirement or even fund a child's college education. Purchase a property when the child is young, and with a little discipline, it can be paid off by the time they are ready to go to college. You can sell it for a lump sum, or use the monthly income to pay their tuition and expenses.4. LeverageOne of the unique features that sets real estate apart from other asset classes is the ability to leverage your investment. Leverage is the use of borrowed capital to increase the potential return of an investment. For example, if you purchase an investment property for $100,000, you might put 10% down ($10,000) and borrow the remaining $90,000 in the form of a mortgage.Even though you've only invested $10,000 at this point, you have the ability to earn a profit on the entire $100,000 investment. So, if the property appreciates to $120,000 – a 20% increase over the purchase price – you still only have to pay the bank back the original $90,000 (plus interest) … and you get to keep the $20,000 profit. That means you made $20,000 off of a $10,000 investment, essentially doubling your money, even though the market only went up by 20%! That's the power of leverage. 5. Tax AdvantagesOne of the top reasons to invest in real estate is the tax benefit. There are numerous ways a real estate investment can save you money each year on taxes:DepreciationWhen you record your income from a rental property on your annual tax return, you get to deduct any expenses associated with the investment. This includes interest paid on the mortgage, maintenance, repairs and improvements, but it also includes something called depreciation. Depreciation is the theoretical loss your property suffers each year due to aging. While it's true that as a home ages it will structurally need repairs and systems will eventually need to be replaced, we've also learned in this post that the value of real estate appreciates over time. So getting to claim a “loss” on your investment that is actually gaining in value makes real estate an appealing investment choice.Serial Home SellingEven if you're not interested in owning a rental property, other types of real estate investments offer tax advantages, as well. Generally, when you own an investment property you pay a capital gains tax on any profits you make when you sell the property. However, when you sell your principal residence, you are exempt from paying taxes on capital gains (up to $250,000 for singles and $500,000 for couples). The Internal Revenue Service (IRS) only requires that you live in the house for two of the previous five years. That means you can purchase an investment property, live in it while you remodel it, and then sell it for a tax-free profit two years later. This can be a great way to get started in real estate investing.Section 1031 ExchangesIn addition to profiting off of your personal residence tax free, it is possible to sell an investment property tax free if you do it through a 1031 Exchange. If structured properly, the IRS Tax Code enables an investor to sell a property and reinvest the proceeds in a new property while deferring all capital gains taxes.Tax-Deferred Retirement AccountIt's a common misconception that you can only purchase financial instruments (i.e. stocks, bonds, mutual funds, etc.) through an Individual Retirement Account (IRA) or 401(k). In actuality, the IRS allows individuals to invest retirement funds in real estate and other alternative types of investments, as well. By purchasing your investment property through an IRA, you can take advantage of all of the tax savings these accounts offer.Be sure to consult a tax professional regarding all tax matters related to your real estate investments. If structured correctly, the profits you earn on your real estate investments can be largely shielded from tax liability. Just another reason to choose real estate as your preferred investment vehicle.TYPES OF REAL ESTATE INVESTMENTSWhile there are numerous ways to invest in real estate, we're going to focus on three primary ways average investors earn money through real estate. We touched on several of these already in the previous section.1. Remodel and ResellHGTV has countless “reality” shows featuring property flippers who make this investment strategy look easy. Commonly referred to as a “Fix and Flip,” investors purchase a property with the intention of remodeling it in a short period of time, with the hope of selling it quickly for a profit.This is a higher-risk tactic, and one for which many of the real estate “gurus” we talked about earlier claim to have the magic formula. They promise huge profits in a short amount of time. But investors need to understand the risks involved, and be prepared financially to cover additional expenses that may arise. Luckily, an experienced real estate agent can help you identify properties that may be good candidates for this type of investment strategy… and help you avoid some of the pitfalls that could derail your plans.2. Traditional RentalOne of the more conservative choices for investing in real estate is to purchase a rental property. The appeal of a rental property is that you can generate cash flow to cover the expenses, while taking advantage of the property's long-term appreciation in value, and the tax benefits of investing in real estate. It's a win-win, and a great way for first-time investors to get started. And according to the U.S. Bureau of Labor Statistics, rents for primary residences have increased 21.9 percent between 2007 and 2015 as demand for rental units continues to grow.3. Short-term RentalWith the huge movement toward a “sharing economy,” platforms that facilitate short-term rentals, like Airbnb and HomeAway, are booming. Their popularity has spurred a growing trend toward dual-purpose vacation homes, which owners use themselves part of the year, and rent out the remainder of the time. There are also a growing number of investors purchasing single-family homes for the sole purpose of leasing them on these sites.Short-term rentals offer several benefits over traditional rentals, which many investors find attractive, including flexibility and higher profit margins. However, the most profitable properties are strategically located near popular tourist destinations. You'll need an experienced real estate professional to help you identify the right property if you want to be successful in this highly-competitive market.DOES REAL ESTATE INVESTING SOUND TOO GOOD TO BE TRUE?We've all heard stories, or maybe even know someone, who struck it rich with a well-timed real estate purchase. However, just like any investment strategy, a high potential for earnings often goes hand-in-hand with an increase in risk. Still, there's substantial evidence that a well-executed real estate investment can be one of the best choices for your money.Purchasing a home to remodel and resell can be highly profitable, as long as you have a trusted team in place to complete the remodel quickly and within budget … and the financial means to carry the property for a few extra months if delays occur.Or, if you buy a house for appreciation and cash flow, you can ride through the market ups and downs without stress because you know your property value is bound to increase over time, and your expenses are covered by your rental income.In either scenario, make sure you're working with a real estate agent who has knowledge of the investment market and can guide you through the process. While no investment is without risk, a conservative and well-planned investment in real estate can supplement your income and set you up for future financial security.If you are considering an investment in real estate, please contact us to set up a free consultation. We have experience working with all types of investors and can help you determine the best strategy to meet your investment goals.Sources:1.     Bureau of Labor Statistics Consumer Expenditure Survey Annual Report  – https://www.bls.gov/opub/reports/consumer-expenditures/2015/home.htm2.     S&P Dow Jones Indices Press Release –https://www.spice-indices.com/idpfiles/spice-assets/resources/public/documents/574349_cshomeprice-release-0829.pdf?force_download=true3.     Durden, T. (2016 November 29). US Home Prices Rise Above July 2006 Levels, Hit New Record High [blog post] ZeroHedge  –http://www.zerohedge.com/news/2016-11-29/us-home-prices-rise-above-july-2006-levels-hit-new-record-high

Debunking 3 Myths About Not Needing an Emergency Fund By Douglas Goldstein CFP®- helping olim handle their U.S. investments from Israel One of the most fundamental principles of financial planning is to prepare for the unexpected by keeping three to six months’ worth of living expenses in an emergency fund. The trouble is many people succumb to the myth that emergency funds aren’t necessary because you can always withdraw from savings. Here are 3 myths about emergency funds and why they are wrong: The best place to keep an emergency fund is in your investment portfolio Yes, an investment account is technically marketable; and it can provide you with access to cash should you need it. However, you can lose real money if you are forced to sell assets at the wrong time. Imagine selling off $5,000 of your equities to cover an emergency expense after the market has declined 25%. It could take you years to gain that back. Better to have that money sitting in a low-yielding money market fund. Read this blog post to learn more about why investing your emergency fund is a bad idea: www.profileperspectives.com/emergencyfund. Once I turn 59½ I can use my retirement plan Yes, once you reach age 59½, the 10% penalty in your Individual Retirement Account (IRA) goes away. However, when you access your retirement account, the withdrawal is taxed as ordinary income. But the real issue is that it could put you into a higher tax bracket, which would be even more costly. Covering a $10,000 expense could require you to withdraw as much as $15,000 to cover taxes. While I do not give tax advice, it is important to keep tax considerations in mind when withdrawing funds. It’s better to pay down debt than to save for an emergency fund While paying down debt may be the best use of your excess cash flow in most situations, few would argue that it should be done at the expense of building an emergency fund. Without an emergency fund, you could end up taking on even more debt, which just compounds the problem. The better approach is to apply a portion of your cash flow to both eliminating debt and building an emergency fund. Douglas Goldstein, CFP®, is the director of Profile Investment Services, Ltd. www.profile-financial.com. He is a licensed financial professional both in the U.S. and Israel. Call (02) 624-2788 for a consultation about handling your U.S. investments from Israel. Securities offered through Portfolio Resources Group, Inc. Member FINRA, SIPC, MSRB, FSI. The opinions expressed are those of the author and not those of Portfolio Resources Group, Inc. or its affiliates. Neither PRG nor its affiliates give tax or legal advice.

Quincy Long helps people take control of their Individual Retirement Account (IRA). Often, you are taught that the only things to invest in are bonds and stocks. However, using a self-directed IRA, the possibilities for alternative investments are much more diverse! You can find show notes and more information by clicking here: http://bit.ly/2ra57PC 

What Happens to Your Retirement Plans When You Make Aliya? By Douglas Goldstein, CFP®, - helping olim handle U.S., IRA, investment, and brokerage accounts from Israel   As a Certified Financial PlannerTM sitting in Jerusalem, I work mostly with American immigrants who keep the majority of their assets in American investment accounts. When a recent oleh listed the various retirement plans that he held in the United States, he mentioned: Individual Retirement Account (IRA) 401(k) retirement plan from an old employer 403(b) plan from when he taught in a school. Although he had some upcoming financial obligations, most of the money was intended for long-term investment.   He told me that his biggest financial problem was that his investments and money “were all over the place,” and with his busy schedule he was unable to keep track of what was going on. Simplify! Although each of the accounts came from different sources, now that this oleh was no longer working in America and contributing to the retirement plans, he could roll the 401(k) and 403(b) plans to an IRA. This would give him flexibility to choose the types of investments that he wanted and still maintain the tax-deferred status of the retirement plans, as well as avoiding the penalties for early withdrawal. Keeping American accounts when living in Israel When I suggested this option of rolling over his accounts into IRAs, the oleh asked if he could still do this, even though he is now living in Israel. This is a question that many dual citizens ask, often thinking that if they inherit or have an existing IRA in the United States they must cash it out. Cashing out an IRA and moving the money overseas is a taxable event, and often a bad idea.   The good news for this oleh, and also for all Americans living in Israel, is that you can maintain your existing tax-efficient IRAs in American brokerage accounts while living in Israel. To find out more about managing your American assets from overseas, download the “Toolkit for Opening U.S. Accounts from Overseas” for free at www.Profile-Financial.com/toolkit   Douglas Goldstein, CFP®, is the director of Profile Investment Services, Ltd. www.profile-financial.com. He is a licensed financial professional both in the U.S. and Israel. Call (02) 624-2788 for a consultation about handling your U.S. investments from Israel. Securities offered through Portfolio Resources Group, Inc. Member FINRA, SIPC, MSRB, FSI. The opinions expressed are those of the author and not those of Portfolio Resources Group, Inc. or its affiliates.

How to Make the Most Out of Your Parents' Stocks By Douglas Goldstein, CFP® What should you do if you inherit a portfolio of stocks from your parents? Should you sell them? To answer the question of whether you should sell the stocks, start by asking yourself whether you would buy these stocks if you had extra cash. You have no moral or legal obligation to keep the positions just because your parents owned them. I've had people come into my office with stocks that their parents bought decades earlier, and they said, “My father said this was such a great company that I should never sell the stock.”  But how could anyone have known whether a company that was in business 10 or 20 years ago would still be a good investment today? Remember Pan Am, Blockbuster, or Enron?  Even though your father's research many years ago suggested that a company would be a good buy, times have probably changed. What about the tax I'll have to pay? Everyone is in a different tax situation, but people who live and die in the United States benefit from an IRS rule called the “cost-basis step-up.”  That means that if your father invested $1,000 in the stock and the value of that position grew to $100,000 on the day of his death, if you sold it the following day for $100,000, the IRS would not consider the transaction as if you had just profited by $99,000. Instead, they reset the purchase price of the stock to the value at which you inherited it ($100,000) so you would not have to pay capital gains tax. [This is an overly simplified example, and depending where you live, there could be other taxes associated. Be sure you get proper tax advice before making any trades.] If you receive the stocks in a U.S. brokerage account or Individual Retirement Account (IRA), you may need to follow certain specific steps in order to take control of them. Feel free to contact our office if you have questions about dealing with an inheritance (02-624-2788).   Douglas Goldstein, CFP®, is the director of Profile Investment Services, Ltd. He is a licensed financial professional both in the U.S. and Israel. His best-selling book, Rich As A King: How the Wisdom of Chess Can Make You a Grandmaster of Investing, is available at online, at bookstores, and at www.RichAsAKing.com. Call (02) 624-2788 for a consultation about handling your U.S. investments from Israel. Securities offered through Portfolio Resources Group, Inc., Member FINRA, SIPC, MSRB, FSI. Accounts carried by Pershing LLC., Member NYSE/SIPC, a subsidiary of The Bank of New York Mellon Corporation. The opinions expressed are those of the author and not those of Portfolio Resources Group, Inc. or its affiliates.  

In this episode the CashFlowGuys dig into Self Directed IRA's and how to use them to rapidly build your retirement plan creatively.  A self-directed Individual Retirement Account is an Individual Retirement Account (IRA), provided by some financial institutions in the United States, which allows alternative investments for retirement savings. The Self Directed IRA allows the investor to control what their retirement funds are invested in.  With a traditional retirement account, the account holder has little to no control of what their funds are being invested in.  Most retire plans invest their account holders funds into stocks, mutual /hedge funds, bonds and other "Wall Street type" investments.  By having control over what your investment funds are invested in offers far better diversification. Self Directed IRA's may be used to invest in many things such as Real Estate, Notes, Tax Liens, Businesses, Livestock, Precious Metals, Stocks and many other things just to name a few.  More information regarding self direction of your IRA can be found by picking up a copy of Attorney Mat Sorensen's book "The Self Directed IRA Handbook" on Amazon or by visiting www.SDIRAHANDBOOK.com. If having control of your retirement plan is something that interests you, the next step is to reach out to a SDIRA Third Party Administrator.  Here is a list of a few of them that the CashFlowGuys have worked with in the past: AdvantaIRA.com MountainWestIRA.com NUViewIRA.com All three of these administrators provide a wealth of information on their individual websites, in addition to what will be learned by reading the Self Directed IRA Handbook by the CashFlowGuys Attorney Mat Sorensen. Tyler helps investors who choose to self direct their retirement plans with formulating a plan and selecting opportunities to build their retirement nest egg.  Being licensed Real Estate agents as well of investors, Tyler Sheff has extensive experience in preparing purchase offers and other paperwork that will comply with the IRA administrators policies, to include preparing extensive cash flow analysis of potential opportunities for the investor's consideration.

The benefits of tax-favored retirement plans like the Thrift Savings Plan or an Individual Retirement Account (IRA) are too great to ignore, and over the span of your career sheltering your investment earnings from the taxman will benefit you tremendously.  For example, assume that you make a $4,000 annual contribution for 45 years and earn […]

This week I speak with Burt White, Chief Investment Officer of LPL Financial. Burt and I discuss LPL's mid-year outlook Titled: The Investor's Almanac.  Burt and his team do a great job simply communicating the economic and investing environment.  Their Investor's Almanac is a great tool to help us invest wisely.  No bold predictions or market calls here, just easy to understand insights you can use to make better informed investing decisions. If you'd like a free copy of their Investor's Almanac you can access it in the Retirement Answer Library.  In this episode we discuss: how to use investment outlooks to Invest Wisely where the U.S. is in the economic cycle where they see potential risks and opportunities how international markets are not in sync with U.S. markets why you should consider harvesting high quality bonds possible alternatives to traditional fixed income places to find income super themes that should provide a benefit the U.S. economy the importance of turning off the worry factory of financial media Retirement Tip of the Week:  Designating a Trust as a Beneficiary of an IRA Last week a client called requesting the beneficiary of his Individual Retirement Account (IRA) be changed to a trust. This planning strategy has become more popular over the last few years. This strategy for IRAs can has some benefits if the ultimate beneficiary is: a minor child someone with special needs a spouse from a second marriage a spendthrift with poor financial skills The trust can help protect the inherited assets and better control how those funds are used by the beneficiary of the trust. Be careful using this strategy though. Done incorrectly, the strategy could conflict with IRS rules and possibly create big tax problems. It is important the attorney drafting the trust be familiar with certain aspects unique to inherited IRAs.   Some things to consider are: Make sure the beneficiaries of the trust are people. They cannot be non-persons (like a charity) Consider adding language specifically prohibiting distributions to non-persons Make sure it is a Conduit Trust. It should include language that requires the distribution from the trust to the beneficiaries of the Required Minimum Distributions coming from the inherited IRA. If there is more than one beneficiary, consider having a separate trust for each. This will also each trust beneficiary to use their own age for required minimum distributions

Join President of Thompson & Associates, Cayce Powell, as he speaks with Vice President Johni Hays, JD, FCEP, as they discuss the basics of an Individual Retirement Account (IRA). In this podcast, they will cover the following points, and more: 1. What are IRAs and how do they work? 2. When are you required to take money out of an IRA? 3. How do the required minimum distribution amounts change as you age? 4. What does “stretch IRA” or “inherited IRA” mean? EP – The Estate Planning (EP) podcasts, hosted by Thompson & Associates President Cayce Powell, focus on basic estate planning principles and tools with a slant on how planning strategies could benefit donors and nonprofit organizations. www.ceplan.com

Achieve prosperity with a Self Directed IRA or Solo 401(k). Listen or call in as we discuss the basics and benefits of setting up a self-directed retirement account with special guest and Self Directed IRA specialist Mark Friedman of Broad Financial. Self-Directed IRA's are being used to make alternative investment choices such as real estate investments, mortgages and trust deeds, tax liens, notes, gold and silver, oil and gas, and much, much more. Are you disappointed with the returns you are receiving or worried about the safety of your current retirement account? Have you suffered losses in the value of your current retirement plan or are you seeking a safer IRA investment alternative than the unpredictable and volatile stock market for your retirement funds? If you have answered yes to any of these questions then you need to know what smart and savvy Individual Retirement Account (IRA) owners (including Traditional IRA, Roth IRA, SEP-IRA and 401k plan owners) are doing to take direct hands-on control of their financial future - They are investing their retirement funds in thier own truly Self Directed IRA LLC with Checkbook Control (sometimes called a Checkbook IRA).

An Individual Retirement Account (IRA) is a great way to build wealth by having your money grow tax free. There are several IRA options available including: Traditional IRAs, Roth IRAs, and Traditional Non-Deductible IRAs. Sophisticated entrepreneurs or investors may set up any of these accounts as self-directed IRAs and invest in privately held businesses, real estate transactions, options on stock, and other non-traditional investments. For these experienced and skilled entrepreneurs and investors, a self-directed IRA can be great way to access start-up or expansion capital and build wealth tax-free. For more information and coaching on THE BARON SOLUTION Strategies for Wealth and Business Success, visit http://www.baronseries.com